01Check
Full cost per trade
Spread + commission + swap. A tight spread with a high commission can cost more.
Scalping · MT5
Scalping gold? The account type matters most.
- Spread or commission. Raw accounts charge a commission instead of a wide spread.
- Two options. Exness has Raw Spread and Zero; XM has Ultra Low.
- Measure it. Compare the full cost per trade on a demo before you go live.
Independent partner page · Not for US residents · Risk warning
Exness
A global broker known for raw-spread accounts and automatic withdrawals.
- PlatformsMetaTrader 4, MetaTrader 5, Exness Terminal and the Exness Trade app
- AccountsStandard and Standard Cent; Pro, Zero and Raw Spread for experienced traders
- Smallest first depositLow minimum deposits; the amount varies by payment method and country. Check the broker's current account page. Source
XM
A large global broker with very small accounts and a free demo.
- PlatformsMetaTrader 4, MetaTrader 5 and the XM app
- AccountsMicro, Standard and Ultra Low (Shares in some regions)
- Smallest first depositStandard and Ultra Low: $5, or the same amount in the deposit currency. Shares: $10,000. Source
A source link is the broker's page. No link: check the broker's current page.
What to check
Three things that matter.
02Check
Execution
Short trades feel slippage most. Test at the times you really trade, news included.
03Check
Know your limits
Many small trades multiply costs and mistakes. Set a daily loss limit and keep it.
Side by side
The facts, not the adverts.
Spreads, leverage and swaps change often and by region, so we never quote them: check them live on a demo.
| Exness | XM | |
|---|---|---|
| Platforms | MetaTrader 4, MetaTrader 5, Exness Terminal and the Exness Trade app | MetaTrader 4, MetaTrader 5 and the XM app |
| Accounts | Standard and Standard Cent; Pro, Zero and Raw Spread for experienced traders | Micro, Standard and Ultra Low (Shares in some regions) |
| Smallest first deposit | Low minimum deposits; the amount varies by payment method and country. Check the broker's current account page. Source | Standard and Ultra Low: $5, or the same amount in the deposit currency. Shares: $10,000. Source |
| Gold | XAUUSD as a CFD on every account | XAUUSD as a CFD on every account |
| Demo | Check on the broker’s site | Free, with virtual money |
| Withdrawals | Exness says most are processed automatically | Check on the broker’s site |
| Who it accepts | Many countries; not residents of the United States | Many countries; not residents of the United States |
| Regulation | Exness (SC) Ltd is authorized by the Seychelles FSA (licence SD025). Other Exness companies are licensed elsewhere. Not for US residents. Source | Check on the broker’s site |
| Spreads, leverage, swaps | Change often: check them live on a demo | Change often: check them live on a demo |
| Suits | Short-term and EA traders who compare the full cost per trade, and traders who want cent accounts. | Traders starting small, and anyone who wants a familiar MetaTrader set-up with small lot sizes. |
| Open an account with Exness | Open an account with XM |
Our take
Good to know, and what to watch.
Exness
Good to know
- Raw Spread and Zero accounts charge a commission instead of a wide spread, which suits short trades.
- Cent accounts let you trade very small sizes with real money.
- MetaTrader 4 and 5, plus its own web terminal and app.
Exness
Watch out for
- Very high leverage is offered: it makes losses as fast as gains, so set your own limit.
- Which Exness company you sign up with depends on where you live, and so do the rules and protections.
- The deposit needed for Pro, Zero and Raw Spread depends on your region: check it before you choose.
Suits: Short-term and EA traders who compare the full cost per trade, and traders who want cent accounts.
Open an account with ExnessXM
Good to know
- Micro lots make it easy to start with a small size.
- MetaTrader 4 and 5, so most EAs and tools run on it.
- A free demo with the same platforms as the live account.
XM
Watch out for
- Ultra Low is the account built for lower spreads; Standard and Micro spreads are wider.
- Which XM company you sign up with depends on where you live, and so do the rules and protections.
- Bonuses and promotions come with conditions: read them before you accept one.
Suits: Traders starting small, and anyone who wants a familiar MetaTrader set-up with small lot sizes.
Open an account with XMHow to start
Three steps. No rush.
01Step
Open a free demo
On Exness or XM. Same platform, virtual money. Trade your plan there first.
02Step
Open the live account
Through the button on this page, on the broker's own site. Start with a small deposit.
03Step
Use Baroq's free tools
Size every trade with the calculator and check the calendar before news.
Free from Baroq
Tools that work with any broker.
No account needed. Baroq makes analytics software for traders; these are free.
Related guides
Read next.
Brokers for EAsExness reviewXM and Exness side by side
Free on the Baroq site: Gold scalping risksGold spread explained
Questions
Straight answers.
Is Baroq a broker?
No. Baroq makes trading software and is an independent partner of the brokers named here. You open, deposit and trade on the broker's own site, under its terms.
Do you earn money when I sign up?
Yes. If you open an account through our link, the broker may pay us a commission. It costs you nothing extra and does not change your prices.
Can I lose money?
Yes. CFDs on gold and currencies are leveraged: you can lose money quickly, and most retail accounts lose money. Trade only money you can afford to lose, and try a demo first.
I live in the United States.
These brokers do not accept US residents, so these pages are not for you.
I live in the EU or the UK.
Brokers serve the EU and the UK through separate companies with their own rules. Use the EU and UK button and we help you find the right sign-up for your country.
Which one should I pick?
Open a free demo on both, place the same trades for a week, and compare what each one really costs you. Then decide.
Before you click
Partner notice. Baroq is an independent partner (introducing broker) of the brokers on this page and may be paid a commission when you open an account through its links, at no extra cost to you. Baroq is not a broker, is not part of any broker and does not hold your money. Exness and XM and their logos are trademarks of their owners; this page is not their official site.
Risk warning. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Most retail investor accounts lose money when trading CFDs. Consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Nothing here is investment advice or a promise of any result.
Not for US residents. These brokers do not accept residents of the United States. Some products are not available in every country; the broker decides who it accepts.
Facts are what the brokers publish. A source link is that fact's page. They change and depend on where you live: check the broker's own site before you deposit.